Pace University Wins 11th Annual National College Federal Reserve Board Challenge

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Experiential Learning Drives Victory As Pace Bests Princeton and U of Chicago In Nationwide Competition

Left to right: Lauren Price, Prof. Anna Shostya, Yulia Mikhailova, Prof. Gregory Colman, Kelsey Berro, Katherine Craig, Jordan Jhamb, Federal Reserve Chair Janet Yellen, Prof. Joseph Morreale

This victory graphically illustrates the competitive advantage and professional experience offered to students who choose the Pace Path.

Pace University won the 11th annual national College Federal Reserve Challenge on Tuesday, a competition that tests students’ understanding of the U.S. economy, monetary policymaking, and the role of the Federal Reserve System.

The finals were held in Washington, D.C. as the capstone to five district competitions held around the country. Undergraduate teams competed in their local Reserve Bank Districts, and top teams moved on to the finals. The other national finalists were second-place Princeton University, and, with honorable mentions, Bentley University, the University of Chicago, and the University of North Carolina at Chapel Hill. The Pace University team had placed first in the semi-final New York regional competition, ahead of 35 other teams in the region. Pace’s win was the first for the NY Fed District in the history of the College Fed Challenge.

The Pace Team represented the New York Federal Reserve District and included Dyson College Economics majors Kelsey Berro (co-captain), Jordan Jhamb (co-captain), Julia Mikhailova, Katherine Craig, Lauren Price, and Daniella Gambino. The team was coached by Economics professors Mark Weinstock, Gregory Colman, and Anna Shostya, faculty members from the Department of Economics in the Dyson College of Arts and Sciences at Pace’s New York City campus. Berro and her professors have been part of winning College Fed Challenge teams since 2012, when Pace first won the New York District challenge and advanced to the national level.

Participating teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeled on the work of the Federal Open Market Committee. Teams competing in the finals gave 15-minute presentations and answered questions for a panel of senior Federal Reserve officials.

"Students' participation in the Fed Challenge adds to their understanding of the economy and the Federal Reserve's role, and, I hope, spurs some students to pursue further study of economics and finance. In addition, the research, analytical, and communication skills that participants gain through their preparations will help them in whatever careers they choose," said Federal Reserve Board Chair Janet L. Yellen.

“Our students demonstrated the quality, hard work and commitment to success that characterizes education at Pace,” President Stephen J. Friedman said. “This victory graphically illustrates the competitive advantage and professional experience offered to students who choose the Pace Path. The result is a group of students who are more effective at graduation; they understand how to deal with major challenges and achieve long-term career success.”

About Pace University: Since 1906, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the opportunities for professional experiences offered by the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. http://www.pace.edu

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